Celsius Creditors Score $220.6M Payout in Third Repayment Wave - Crypto Winter Thaw Continues
Celsius creditors just caught another break as the bankrupt crypto lender unleashes its third major distribution—$220.6 million hitting wallets in what’s becoming a rare redemption arc in crypto’s collapse era.
Repayments Ramp Up
This isn’t some vague promise or a restructuring footnote. This is cold, hard capital flowing back to those left holding the bag when Celsius imploded. With this round, the total reimbursements climb sharply, signaling that even in bankruptcy, crypto outfits can cough up real money—unlike your average traditional finance shell game.
Trust, but Verify
Let’s be clear: this isn’t charity. It’s calculated, court-approved capital allocation. Every dollar returned rebuilds a shred of trust in an industry that’s been bleeding it since the last bull run peaked. Creditors might not be made whole, but they’re getting more than radio silence—a novelty in high-yield meltdowns.
Maybe there’s hope after all—or just enough cash back to make the next crypto gamble feel a little less reckless.
Crypto and Dollar Distributions
Most of the third-round distributions will be paid in Bitcoin (BTC) and ethereum (ETH). Celsius stated that eligible users must complete the required Know-Your-Customer (KYC) process through approved platforms including Coinbase and PayPal. However, corporate creditors may receive payments in U.S. dollars rather than crypto.
Part of the recovery effort also involves equity shares of the newly formed mining unit, Ionic Digital. Celsius expects this structure to increase the total recovery rate for creditors. Overall, it’s estimated that affected users could receive between 67% and 85% of their original holdings. The firm also stated that creditors should remain alert for phishing emails and fake messages. Only official communication channels should be trusted for distribution updates.
The third distribution shows steady progress in Celsius’s restructuring. This distribution progress may enhance confidence in other ongoing crypto bankruptcy recoveries.
Also Read: WazirX Creditors Back Amended Scheme, Court Sanction Next
